This case, brought by the United States in December 2011 against Countrywide Financial Corporation, resulted in the largest residential fair lending settlement in U.S. history. $335 million was paid to compensate more than 200,000 African-American and Hispanic borrowers who were allegedly charged ...
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This case, brought by the United States in December 2011 against Countrywide Financial Corporation, resulted in the largest residential fair lending settlement in U.S. history. $335 million was paid to compensate more than 200,000 African-American and Hispanic borrowers who were allegedly charged higher fees and interest rates because of their race or national origin. The United States also claimed that Countrywide and its subsidiaries ("the Countrywide Defendants") steered thousands of African-American and Hispanic borrowers into subprime mortgages when non-Hispanic White borrowers with similar credit profiles received prime loans.

Prior to entry of the Consent Decree, the Countrywide Defendants had stopped originating residential loans. In addition to the monetary relief, the consent decree contained remedial provisions to become effective in the event the Countywide Defendants ever reentered this business. These included implementation of policies and practices to prevent and detect potential fair lending violations not only on the basis of race or national origin, but also on the basis of marital status.

The Consent Decree had a four-year term, beginning December 21, 2011.

On January 25, 2016, the Court (Philip S. Gutierrez) entered an amended Consent Decree which extended provisions of the settlement to December 30, 2016.